Tips for Managing Your Time as Business Owner

September 27, 2018 5:56 pm

All of us are expected to manage our time well within our everyday lives; however, running a business is a completely different ball game, due to having to keep on top of your finances, meetings, social engagements, schedules and dealing with employees. Sometimes, it can feel that 24 hours in the working day just isn’t enough to keep up with the pace, so how can you manage your business efficiently in the little time you have on a day-to-day basis?

1.  Set goals

Instead of running around in a panic with the aim to get everything done, focus on being realistic as to what you can manage each day. Rather than trying to finish an unreasonable amount of tasks in one day, set goals so you can allow yourself to relax when it comes to spending time with your family in the evening. Doing so will ensure you aren’t worrying about what you have to do tomorrow which you didn’t get done today.

However, it is also important to have a work, play and rest balance just like everyone else, so don’t push yourself too hard. Although you may feel guilty taking that bit of time-out, you certainly need it to unwind and get back on the treadmill at full pace when necessary.

2. Set time aside for administration tasks

According to a study, business owners need the most help with their administrative tasks, in which business finances make up a huge chunk. Hiring an accountant could take out all the added stress you don’t need when it comes to sorting out finances. They will be able to manage aspects such as record-keeping, looking over your financial plan and keeping track of your business growth.

Admin tasks may also include the need to filter through hundreds of emails, mail and paperwork to ensure your business is running efficiently. If you wish to manage such tasks yourself, it may be worth setting time aside per day or week to make sure you keep on top of it, rather than waiting until you just can’t ignore it anymore. It is recommended that you spend 5 hours per week solely on administration.

3. Hire a recruitment company

Are you looking to expand the number of employees within your business, but just haven’t got the time to dedicate to looking for your ideal candidates? This is where a recruitment company could help. All you have to do is advertise a job online and the agency will match suitable employees to your requirements and send them your way. Find out more about expert recruitment agencies and how they could be of benefit when it comes to hiring new employees.

4.  Minimise distractions

As you will be working online or on your phone for most of the time, it can be extremely difficult to avoid distractions when there is just so much to catch your attention. Such distractions can be detrimental time-wasters when it comes to sticking to your daily plan. Therefore, it may be ideal to purchase a work phone alongside your personal phone to be used solely used for business purposes, meaning there is less distraction. There are many ways you can learn to fight distraction when it comes to running your business.

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